All DONALD BERG Articles

Brown Forman topped $1 billion in quarterly sales for the first time during the October period, but Chief Financial Officer Donald Berg also said Thursday that the spirits purveyor has grappled with the effects of a surging U.S. dollar this year and one of its newest products cannibalizing sales of one of its mainstay brands.

The rapid strengthening of the dollar will cut per-share earnings by 10 to 11 cents for the fiscal year ending in April, Berg said on a conference call to discuss Brown Forman’s fiscal second-quarter results, according to a transcript provided by Factset. Back in June, the company expected weakness in the dollar would help earnings by a “few cents” per share this year, Berg said.